Consignment Agreement Checklist and Sample
By Amy Nichols
January 21, 2004
Download the Consignment Agreement Checklist and Sample Museum Store Vendor Consignment Arrangement PDFs at the end of this article for guidelines to create a consignment agreement for your store.
When writing a consignment agreement, begin with a brief explanation of your store's mission.
Identify the "Seller" and the "Consignee," and describe goods to be sold. Establish, in general, where the goods will be displayed in the store.
Set the minimum purchase price for the consigned merchandise, and the percent of the price that the Seller will keep. Outline any discount terms for specific sales volumes.
Decide how frequently sales will be reported and payment terms.
Specify the details of theft and damage insurance and state who is responsible when the merchandise is in the Seller's possession.
Set a consignment period during which the Consignee will leave merchandise with the Seller.
Determine protocol for merchandise not sold by the end of the consignment period. Define renewal terms, when and under what circumstances merchandise will be removed, who incurs shipment/delivery of merchandise costs, etc.
Require Consignee contact details and payment information including name of individual, name of business, address, phone numbers, e-mail address, checks to be made out to, tax ID number, etc.
Outline terms specifying who will collect and report sales tax.
Write in any special arrangements for consumer warranties.
Detail the Cancellation and Assignability terms, and review and finalize your agreement with your legal counsel.
Sample Museum Store Vendor Consignment Arrangement provided by Tammy Carter, manager of the Flandrau Science Store in Tucson, AZ.
Consignment Agreement Checklist (PDF)
Sample Museum Store Vendor Consignment Arrangement (PDF)
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